Have a question Click here

Yearly Archives: 2009

Further to my concerns on Spanish Banks now linking a mortgage approval to taking life insurance it has come to light that taking life insurance in Spain does nothing to assist with payment of any Inheritance Tax (IHT) bill that the death of a client may instigate in Spain.

Despite the current banking issues obtaining a mortgage for buying in Spain is still available. Lenders like Halifax, Lloyds with their UK roots remain committed to keeping a presence in Spain. Spanish banks are also still providing finance. The key change from a couple of years ago is the risk criteria’s are now rigidly followed; […]

When buying a distressed property in Spain you have a number of points at which you can try to secure the property. The first point is when the current owner is experiencing difficulties but before the bank starts any action (where a mortgage is involved). The owner may be willing to drop price significantly to […]

Bancaja the last remaining lender in Spain who as standard allowed a loan size for non-residents to be as high as 80% of purchase price if valuation fell within 70% have tweaked their scoring system so it rejects automatically any applications put to them on this basis. Only cases loaded at 70% of valuation and […]

This week on top of rate increases the Banco Halifax Hispania announced it will be increasing the minimum loan level for its Switch and Save re-mortgage product in Spain to € 140.000 from its current € 100.000. As this product remains, the most cost effective route to moving your loan in Spain this is bad […]

This week further to my comments on Low Rate Spanish Mortgages and Dominion Credit, I received a correspondence from a client who has had experience of dealing with them. It would appear my concerns about their Spanish Lending facilities have some validity and there remain many unanswered questions about these two companies. The comments from […]

International mortgage solutions announced today they are finally raising the white flag and surrendering on mortgages for people buying in Morocco and Cape Verde. Heather Chambers said today. Cape Verde banks are volatile, unreliable and have no set criteria’s. What you are expecting bears no resemblance to what finally is offered and there is no […]

From 9th of November Banco Halifax Hispania will be increasing margins above the Euribor which they charge clients for Spanish mortgages. Halifax are now distinguishing not only between rates applied for interest only but also against loan size and whether 12 month or 1 month Euribor is selected. The pricing is somewhat complicated making decision […]

GMAC who two years ago withdrew their self certified product from Spain are now writing to existing clients to try and reduce their Spanish mortgage book so they can remove their administration centre from Spain in its entirety. GMAC Spain are offering clients a reduction of 10% of the outstanding capital owed and to cover […]

A number of clients who currently hold CAM bank mortgages and are in arrears have recently received letters in the UK from a lawyer firm telling clients that should they fail to bring the mortgage up to date it is possible CAM Bank may pursue assets in the UK. Whilst clearly the bank has the […]